KER Commentary – Fri 11 Nov, 2016

An exclusive first hand look into the currency controls in India

Our friend Jayant Bhandari is currently in India and shares with us a first hand view of what is happening with the ban of 500 and 1000 Rupee notes. We thanks Jayant for waking up early on Saturday to let all of us know what the Country is going through.

You can check out Jayant’s free website here.

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Jayant BhandariCory Fleck

  1. On November 12, 2016 at 3:05 am,
    FranSix says:

    They can cancel currency denominations, but they can’t cancel gold. Mostly people will have to rely on electronic transactions if they haven’t done so already. What are the statistics on the use of debit and credit cards in India?

    • On November 12, 2016 at 5:24 am,
      Tad says:

      Percentage wise, extremely low I would say.
      A lot of people have little more than a couple of changes of clothes. Cash is king.
      Bank accounts are for those with money….

  2. On November 12, 2016 at 6:14 am,
    james says:

    Banks and Government are corupte !